Fresno homes selling fast; not enough inventory

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Updated: 7/31/2012 6:58 pm

The competition is tough when purchasing a home.

" You make an offer and there's about 10 other people that do," Sharon Sheehan. 

It took Sharon Sheehan 3 years to finally get into a home she's been wanting.

She made offers on several different ones in the past but was always out bid by other buyers.

It's become a common scenario for a lot of other home buyers as well.

There's an increased demand for homes, but not enough on the market.

" The banks are not coming through as much as they did. Traditional sellers, some of them are not wanting to sell yet as prices are starting to turn," Dan Hawkins of Fresno Assoc. of Realtors said.  

Realtors say the trick to getting the keys to a new home is to pay your own closing cost if possible and not to stress the small things you find in a home.

" The investors are going in as is and that's what you're up against," said Hawkins. 

"A third of all our sales now are cash," said Hawkins. 

That's good news for sellers, but frustrating for those eager to buy their first home and find themselves competing with investors who typically have an advantage.

"If a first time home buyer is trying to buy under $150,000, and it's up against cash offer, it's tough for them to compete in that market, " said Hawkins.

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